,Singapore

Dover Forest BTO flat launch price could go as high as $700k

OrangeTee says more young people are aspiring to live in mature estates.

The Housing and Development Board (HDB) recently revised its development plans for Dover Forest, which includes the launch of build to order (BTO) flats.

OrangeTee Senior Vice President of Research and Analytics Christine Sun said a 4-room flat in this area could launch for a similar price as the May 2021 Bukit Merah BTO: at $600,000 to $700,000. The Bukit Merah project was heavily subscribed.

HDB resale flats in Dover currently average at a price of $680,000 for 4-room and $780,000 for 5-room, although one of the newer flats hit a price of $1m this year.

“Recent studies have shown that the application rates at mature estates have increased over the years and the trend indicates that many young people aspire to live in mature estates. There could be various reasons such as the need to live near their parents, for the convenience of working downtown or simply because almost all million-dollar flats are located in mature estates, hence some could be hoping to sell their flats at such a high price in the future,” Sun said.

“Young couples who may not have the cash or financial support from their families to buy a resale HDB flat or private condominium in this area would appreciate the opportunity to ballot for a new unit in this area at a subsidised rate,” she added.

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